Pressure on EU's southern borders from African migrants seen persisting in 2018-Reuters

EU prepares response to possible US tariffs The European Commission is mulling concrete counter-measures, should the United States impose high tariffs on steel and aluminum imports. Brussels has no intention to just sit still. -DW

POLITICAL CULTURE MATTERS Germany’s political identity crisis The next four years in Germany will be anything but boring. A tectonic shift is taking place in Germany that will either revitalize or paralyze its usually staid political culture. -Politico.eu

Syria pro-government forces enter Afrin to aid Kurds against Turkey The confrontation pits the Turkish army and allied Syrian rebel groups directly against the military alliance backing the government of President Bashar al-Assad, further scrambling northwest Syria’s already messy battlefield. -Reuters

AML William Hill fined £6.2m by Gambling Commission for lax controls Betting firm William Hill has been hit with a £6.2m penalty package for breaching anti-money-laundering and social responsibility regulations. -BBC

MORE AML On February 7, 2018, Dutch bank Rabobank’s U.S. subsidiary pleaded guilty to conspiring to impair, impede, and obstruct a review by the Office of the Comptroller of the Currency (“OCC”) of the bank’s anti-money laundering (“AML”) program, agreeing to forfeit more than $368 million as a result. -Lexology

RELAX AND INVEST, Saudi prince tells investors after corruption crackdown Three months after Saudi Arabia detained scores of people in a crackdown on corruption, its rulers are trying to reassure investors that the kingdom remains open for business. -Reuters

GLOBAL MACRO

EU joins global growth bandwagon After many false dawns, at last some sunlight has fallen on Europe's strongest economies. -BBC

Dalio's Bridgewater Quadruples Shorts on European Union Stocks The firm, run by Ray Dalio, has at least $13.1 billion in shorts, or wagers that a stock will fall, according to EU regulatory filings. That’s up from the $3.2 billion it had disclosed in such bets on Feb. 1. -NewsmaxFinance

PACIFIC PIPE DREAM Australia says UK could join Pacific trade group after Brexit UK ministers have previously floated the idea of joining the Trans-Pacific Partnership to make up for trade likely to be lost with the EU -Independent

BLAME IT ON THE RAIN Latvia Signals Russia May Be Interfering in Banking Crisis -Bloomberg

ABIDING IDEOLOGY China’s next ideological front Beijing is tightening the screws on internal political dissent, and Americans are growing more uneasy about the nature of Chinese influence abroad. Ideology once again defines the terms of the U.S.-China relationship. -Reuters

How Did Japan Lose Its Air Superiority Advantage? Once one of the world’s most capable air forces, Japan now finds itself outmatched in air-to-air combat capabilities. -The Diplomat

In Japan, a Liberal Maverick Is Seeking to Lead a Conservative Party But a new generation of politicians is already positioning itself to succeed him [Abe]. Mr. Kono, 55, is one of the most intriguing, bringing a maverick streak to Japan’s usually stodgy political world. -NYT

Cities, prefectures rush to localize ordinances for Airbnb-type lodging before minpaku law takes effect. Ahead of the introduction of a law to regulate minpaku (private lodging services) in June, dozens of governments nationwide have begun drawing up their own rules under the new law. -The Japan Times

Reports that Uber plans to sell Southeast Asian business to Grab 'speculation'-The Strait Times

Uber could be profitable if it wants to, says CEO He said that it’s Uber’s commitment to “developing” markets that are dragging things down, but he views that as an “optional investment.” However it’s the “right thing to do,” he said, claiming that the company won’t stop investing in Asia anytime soon. -Tech Crunch

Vietnam Pulls Request for U.S. Help to Build a Coal-Fired Power Plant-NYT

GLOBAL MACRO

$$$ TOKYO BOUND Japan's cheap money addiction set to deepen under Kuroda's second term The BOJ's path to normalization will become harder as dependence grows -Nikkei

PODCAST OF THE WEEK Power Dynamics and the “Two Asias” This episode examines the development of two competing conceptions of Asia – an “Economic Asia,” characterized by trade integration and a rising tide of interconnected growth, and a “Security Asia” beset by powerful nationalisms and clashing security concepts. -CSIS

What Happens When China Eclipses the U.S. in Asia A Q&A with Hugh White, a former top Australian official who feels Beijing has already filled the U.S. leadership void. -BloombergView

RETURN AND VOLLEY – HIT ’EM in the HEARTLAND China to launch anti-dumping investigation into U.S. sorghum imports China will launch an anti-dumping and anti-subsidy investigation into imports of sorghum grown in the United States, the Ministry of Commerce said on Sunday, in a sign of increasing trade tensions between the world's top two economies. -Nikkei

Scandal swirls around Thailand’s junta at an awkward momentA general on a modest military salary has been caught wearing 25 different luxury watches -The Economist

How a Singaporean trade idea can benefit Hong Kong, due to a provincial Chinese party chief with local experience Hong Kong could be set to muscle in on a Singaporean plan for a ‘southern transport corridor’ to Southeast Asia –SCMP

Battle for data rages between China and US Both sides are seeking more control over today's hottest resource The clash highlights one of the hottest friction points between the U.S. and China today. Both have their claws out as they seek to control one of the 21st century's most valuable resources: data. -Nikkei

PRIVATE BECOME PUBLIC Tencent’s new credit system to use payments, social data-Tech in Asia

Asian markets tumble as rising borrowing costs spook dealers Asian markets tumbled on Friday (Feb 2), hit by profit-taking and growing global concerns about a rise in US Treasury yields to four-year highs, while fresh US political turmoil is also causing unease. -The Straits Times

A Year in Review The Trump Presidency, Year One Five takeaways from the first year of the Trump presidency. -The American Interest

The Trouble With Kissinger's North Korea Advice Kissinger is moving the goal posts on where the final red line is on North Korean behavior -The Diplomat

“Yet, frustrated as he is with a futile and counterproductive negotiating process, he ends up recommending the same policies followed by four successive presidents until the Trump administration, often based on Kissinger’s own advice at the time.”

IN LATIN AMERICA ON CHINA Tillerson characterized Chinese investment in the region as a bad deal, with any agreement likely to benefit only Beijing. -Bloomberg

“Our region must be diligent to guard against faraway powers who do not reflect the fundamental values shared in the region,” Tillerson said.

Amid low morale, highest-ranked career official at State to step down-Politico

House Financial Services Committee Advances 15 Bills The US House Financial Services Committee announced that it had advanced 15 bills, many of which would alter the regulatory framework for financial institutions. -JD Supra

The Apple Tax GiveawayOne of the biggest beneficiaries of the Trump tax cuts is in Cupertino -The American Interest

MAKE EXPROPRIATION GREAT AGAIN Should Trump Nationalize a 5G Network? According to leaked documents, there is a proposal going around the White House to build a federally owned 5G telecommunications system — the next version of a mobile broadband network — or perhaps even to nationalize the 5G networks that private telecom companies are now building. -NYT

California DMV disengagement report reveals self-driving improvements This year, the report reveals some interesting details about the progress of some of those companies, including Waymo, GM’s Cruise and Tesla (sort of – you’ll see what I mean). -Tech Crunch

Zinke's agency held up Indians’ casino after MGM lobbying Two tribes in Connecticut say the Interior Department illegally failed to say yes or no to their plans for a third casino in the state. -Politico

Japan's Fujifilm to take over Xerox in $6.1 billion deal, create JV-Reuters

The Energy Solution Latin America Needs Demand for electricity is increasing rapidly in Latin America: Growing middle classes are buying appliances, while many countries are embracing energy-intensive industries. Electricity consumption is projected to rise more than 70 percent by 2030. -NYT

In Europe, right-wing parties are offering bigger handouts than traditional onesAnd that is part of the secret of their electoral success -The Economist

A New Leader in the Race to Succeed Merkel For years, it was assumed that German Chancellor Angela Merkel would seek to hand the reins of party leadership over to Ursula von der Leyen. But lately, a new face has emerged in the mix: Saarland Governor Annegret Kramp-Karrenbauer. -Der Spiegel

QUITE CONTRARIAN FOR A UK PM Theresa May warns China to play by international rules Beijing to stick to international trade rules and tackle the dumping of cheap Chinese steel as she makes her first visit to the country as prime minister. -Politico.eu

US releases list of Putin officials, oligarchs for possible sanctions-France24

Moscow laughs off Washington's 'Kremlin Report' Russia has reacted with ridicule to the release of the US government's so-called "Kremlin Report," a template for future sanctions. Experts have also been critical. DW looks at the list and its potential ramifications. -DW

New Cartel Suspicions Secret Price Fixing Among German Carmakers After numerous scandals in recent years, the German automobile industry is facing scrutiny yet again. This time, VW, Daimler, BMW and Bosch are believed to have colluded on steel price fixing. -Der Spiegel

Facebook starts polishing its privacy messaging ahead of GDPR As the May 25 deadline for compliance with the EU’s updated privacy framework fast approaches Facebook is continuing to PR the changes it’s making to try to meet the new data protection standard — and steer away from the specter of fines that can scale as high as 4% of a company’s global turnover. -Tech Crunch

Social media and misinformation WhatsApp: Mark Zuckerberg’s other headache The popular messaging service shows that Facebook’s efforts to fight fake news may fail -The EconomistINFORMATION STILL SELLS Blackstone to Buy Thomson Reuters Unit in $20 Billion Deal-Bloomberg

JAB's empire expands in soda with Dr Pepper Snapple deal AB Holding Co, the private holding company of Germany’s Reimann family, is taking on juice and soda in its latest acquisition, as its Keurig Green Mountain business scoops up U.S. beverage maker Dr Pepper Snapple Group (DPS.N). -Reuters

Disney, Walmart back venture fund to tackle forced labor Companies who have faced criticism for poor working conditions found in their supply chains have backed a fund to combat forced labor. The fund supports tech startups that seek to monitor abuses or trace products. -DW

CLEANED UP Saudi authorities to net over $100 billion in corruption purge-France24

Bank of England turning sights to tackling inflation: Carney The Bank of England is turning its focus back to the more conventional business of bringing down inflation as Britain’s economy showed it was getting over the damage wrought by the 2007-09 financial crisis, Governor Mark Carney -Reuters

OPEC's Year-One Report Card in Five Charts The cartel's performance shows why it has to keep going in 2018 and beyond. -Bloomberg

At Davos, the Real Star May Have Been China, Not Trump it was clear in Davos, Switzerland, this past week that geopolitical momentum lay with Beijing, not Washington. -NYT

WATCH MIRROR IMAGING What Austria's Emperor Franz Joseph Can Teach Trump About War With North Korea Franz Joseph saw an opportunity through war to ‘Make Austria-Hungary great again’. Instead he plunged the world into global conflict. -The Diplomat

Attacking North Korea Is Unthinkable. Or Is It? If radical concessions like pulling troops off the peninsula won't work, the U.S. will have to take out Kim's nukes and artillery from the air. -Bloomberg View

China has India surrounded in their new Great Game Nepal, Sri Lanka, Pakistan -- Beijing is pulling South Asia into its orbit -Nikkei

Japan’s top envoy Taro Kono breaks the ice, but China sees ties as ‘still cool’ Two sides agree to resume reciprocal visits by leaders, continue to work together on North Korea, and hold trilateral summit with South Korea -SCMP

DPP needs to earn a second term One year and eight months after Tsai Ing-wen (蔡英文) became president and two years after the Democratic Progressive Party (DPP) won a resounding majority of seats in the Legislative Yuan for the first time, the party appears to be coping fairly well with the stressors of power and has, as yet, not befallen a major scandal of governance which might fatally undermine the public’s perception of its competence in government or its electability. -Taipei Times

Will Alibaba Be the First Chinese Company Punished by Trump? Trump reveals that a very big fine will come out soon over Chinese intellectual property theft. -The Diplomat

PODCAST OF THE WEEK Art Dicker: Understanding Chinese outbound investment (January 18th, 2018) Trends in Chinese outbound M&A, the reasons behind these trends, new Chinese policies regarding outbound investment, and the impact of the Trump administration on Chinese investment into the U.S. -AmCham Shanghai

HNA ditches vanity purchases for Silk Road commodity deals to vie for Beijing’s support By shifting to target commodity and logistics assets in ‘Belt and Road’ nations, HNA says it can benefit from government policies -SCMP

China leans on Alibaba and Tencent to digitize public services-Tech in Asia

Weibo falls foul of China’s internet watchdog for failing to censor content Social media platform told to shut down popular services for a week-SCMP

Coincheck to Repay Users Who Lost Money in $400 Million Hack -Bloomberg

Vietnam jails former politburo official for 13 years in graft crackdown-Reuters

GLOBAL MACRO

Here’s how to beat fake data about the Chinese economy The scale of falsification by local bureaucrats has become a major international embarrassment to China – it’s time to send in the graft-busters -SCMP

China's Hebei province to cut coal use by 5 million tonnes this year: Xinhua-Reuters

Trump threatens to take away more U.S. aid from Palestinians if they don’t negotiate with Israel President Trump threatened Thursday to write off the Palestinian leadership and withdraw further U.S. aid if Palestinians are not serious about negotiating peace with Israel, deepening a diplomatic rift and putting Trump’s hopes for a historic agreement on hold. -The Washington Post

THE TILLERSON FILE Tillerson’s State Overhaul Faces Mutiny as USAID Weighs RoleThe agency in charge of U.S. foreign aid has put Rex Tillerson on notice about rising frustration over his State Department redesign, the most visible sign yet of the confusion surrounding his bid to reshape American diplomacy. -Bloomberg

GOP lawmakers condemn Trump’s tariff decision Prominent Republicans warned President Trump on Wednesday against taking further trade actions that could harm American workers, even as top administration officials meeting in Davos, Switzerland, rose to the defense of the president’s “America First” rhetoric on the eve of his arrival. -Bloomberg

Brazilian court upholds corruption conviction of former president Lula, potentially ending his political career-The Washington Post

US-AMERICAS | COMMERCE/MARKETS

IMPACT + OPPORTUNITY

GLOBAL BUSINESS

WHAT’S YOUR WASHINGTON STRATEGY? Apple, Amazon, Facebook and Google spent nearly $50 million — a record — to influence the U.S. government in 2017 Immigration, net neutrality, taxes and Russia dominated tech’s agenda in the nation’s capital last year, per new reports. -Recode

Facebook, Google and Twitter told Congress they do not believe Russian trolls interfered in last year’s elections in Virginia and New Jersey The companies’ comments came in response to another round of questions from the Senate Intelligence Committee -Recode

Russian Trolls Are Only Part of the Problem The companies have misplaced their focus in the fight, concentrating too heavily on removing Russian content while ignoring the problematic articles and posts created and shared by American outlets and users. -NYT Opinion

NICE WRAPPING BUT NOTHING INSIDE SEC Weighs a Big Gift to Companies: Blocking Investor LawsuitsIn its determination to reverse a two-decade slump in U.S. stock listings, a regulator might offer companies an extreme incentive to go public: the ability to bar aggrieved shareholders from suing. -Bloomberg

Using Drones and Netflix in the Andes, but Sidestepping Google Maps-NYT

GLOBAL MACRO

$$$ The Treasury Doesn't Need a Dollar Policy It needs to be fiscally responsible and a prudent financial regulator. -Bloomberg

Protectionism Can't Fix Trade Imbalances If Washington wants to reduce deficits, it must focus on capital.Donald Trump's administration this week announced new tariffs on solar panels and washing machines. It has hinted at more to come. The rationale for these measures is that they'll reduce American trade deficits -- in particular, the widening deficit with China -- and thus benefit the U.S. economy. Rather than take Washington’s assumptions at face value, however, we must consider how protectionism affects capital flows. -Bloomberg View

MEPs vote to shrink European Parliament after Brexit Following months of debate on redistribution of Britain’s seats, compromise proposal carries overwhelmingly. -Politico.eu

Merkel's Got Some Explaining To Do German Chancellor Angela Merkel has completely reversed her refugee policies without bothering to tell German voters why she has done so. Such imperiousness is a common problem for those who have been in office for too long. -Der Spiegel

ELECTION WATCH And the next Italian prime minister is … The field is wide open ahead of March 4 election. -Politico.eu

“Paolo Gentiloni is popular in the polls and many in the country have argued he should stay on.”

EU tax haven blacklist: Finance ministers remove eight countries, including Panama Officials and activists have decried a decision by EU ministers to remove several states from a tax haven blacklist. Among those delisted is Panama, less than two years after its secretive tax loopholes were leaked. -DW

US blames Russia for chemical attacks in Syria Washington's top diplomat has accused Moscow of breaching "its commitments" to destroy Syria's chemical weapons stockpiles. Aid workers have reported another chemical attack on the last rebel bastion near Damascus. -DW

A bitter rivalry between Arab states is spilling into AfricaTHE rivalry between Saudi Arabia and the United Arab Emirates (UAE) on one side and the Gulf state of Qatar on the other is spilling poison into the Horn of Africa, embittering animosities between half a dozen countries in the region. -The Economist

France renews push to lure bankers to Paris after Brexit The French government has already announced measures to cut labour costs to make Paris more attractive to the banking sector post-Brexit following the election of President Emmanuel Macron in May 2017. -France24

Uber CEO to end 'pirate' culture in push for 'reset' in Germany Uber chief executive Dara Khosrowshahi has said the US ride-hailing firm will focus on "responsible growth" in Europe as he seeks to end the "pirate mentality" -DW

Murdoch’s Bid for Full Control of Sky Is Dealt a Blow by U.K. Regulator-NYT

Corbyn Dreams of Nationalization. But What About Amazon?Royal Mail needs profits to reinvest in modernization. Look at how Deutsche Post has thrived. -Bloomberg View

OPEC's Casual Relationship With Hedge Funds Oil speculators are helping the cartel, but at a price -Bloomberg Gadfly

Oil’s Uncertain Comeback Unless there is a notable geopolitical shock, traditional oil producers should treat the recent oil-price gains as a temporary windfall, not a permanent state of affairs. To prolong the price recovery as long as possible, they should reinforce their collective production discipline. -Project Syndicate

Greece secures billions as bailout enters final stages Eurozone finance ministers have reached a "political agreement" to grant Greece €6.7 billion in bailout money. The ministers praised Greece's progress, putting it on track to leave its bailout program this year. -DW

THE GREATEST GAME “Today … we are facing increased global disorder, characterized by decline in the long-standing rules-based international order — creating a security environment more complex and volatile than any we have experienced in recent memory.Inter-state strategic competition, not terrorism, is now the primary concern in U.S. national security.” -Summary of DoD 2018 Report

US Redeploys Nuclear-Capable Bombers to Asia-Pacific The U.S. is deploying six B-52H Stratofortress bombers to the island of Guam in the Western Pacific. -The Diplomat

China says U.S. warship violated its South China Sea Sovereignty A U.S. Navy destroyer this week sailed near the Scarborough Shoal, a disputed lagoon claimed by China in the South China Sea, U.S. officials said on Saturday, and Beijing vowed to take “necessary measures” to protect what it said was its sovereignty. -Reuters

The rising global tide against bribery Companies with global operations must therefore be mindful that they are now operating in a world of high transparency and vigilance. In countries where bribery is commonplace, it may be especially tempting to go with the flow and conform to local norms or else risk losing business. -The Straits Times

IN CHINA, BIG DATA IS WATCHING YOU … and that could be a huge ‘challenge to the West’ Political scientist Sebastian Heilmann says the reality of Beijing’s digital surveillance exceeds the vision of Orwellian fiction -SCMP

REALLY? Ex-IBM employee from China gets five years prison for stealing code-Reuters

Marriott and other firms bow to China to protect business interests For Marriott, it was the wording of a survey emailed to members of its rewards club. At fashion brand Zara, it was a drop-down menu on its website. And for Audi, it was a presentation at the German carmaker’s annual meeting that showed a map of China that excluded Taiwan and parts of Tibet. -The Washington Post

“Marriott, which has been aggressively expanding in China in recent years, says it is implementing an ‘eight-point rectification plan’ to prevent future mishaps.”

“As a company, we take very seriously the privilege and opportunity we have to serve guests in countries around the world – and particularly in China, a market we have been in for over 30 years. We also take responsibility when we make mistakes. We will learn from this experience, make changes to ensure errors like this don’t happen again, and continue to focus on making sure our Chinese guests feel respected and have wonderful experiences as we have the privilege of serving them in our hotels in China and around the globe.”

FREEDOM: A QUAINT NOTION? Japan-EU trade agreement is about freedom When all eyes are on China’s global ambitions, Japan is showing a new way of deploying its soft power. Prime Minister Shinzo Abe’s visit this week to six eastern European countries — Serbia, Bulgaria, Romania and the three Baltic states — is a historic first. It reflects Japan’s understanding that the future of the international economic order will be played in and with Europe. -The Japan Times

Philippines revokes license of leading news website Rappler Ruling denounced by critics as an ‘alarming attempt to silence independent journalism’ and latest blow to free press in country -The Guardian

GLOBAL MACRO

REALLY? China's economy set to slow to 6.5 percent in 2018 as government turns off cheap money:Reuters

NO, NOT REALLY China records improved GDP growth in 2017 Latest stats show strong overall rebound of 6.9%, while GDP volume has also exceeded 80 trillion yuan for the first time -Asia Times

Souring World Views of Trump Open Doors for China and Russia Much of the world has soured on American leadership since President Trump took office, a loss of faith that has opened up opportunities for other countries like China, Russia and Germany to assert themselves on the international stage, according to an extensive new survey of people living around the globe. -NYT

GET THE FULL REPORT HERE Rating World Leaders: 2018 Find out how people in 134 countries rate U.S. leadership -- one year into U.S. President Donald Trump's term. -Gallup

Congress hurtles toward shutdown The House passed a bill to keep the government funded for another four weeks, but prospects in the Senate look dim. -Politico

Congress Approves Six-Year Extension of Surveillance Law The Senate on Thursday voted to extend by six years a law that authorizes the National Security Agency’s warrantless surveillance program, essentially ending a cycle of debate over wiretapping and privacy that began with the leaks in 2013 by Edward J. Snowden, a former intelligence contractor. -NYT

AUTOPILOT DISENGAGED A bill to put more self-driving cars on U.S. roads is stuck in the Senate California’s own senator isn’t convinced the technology is ready. -Recode

Mexican views of the United States drop to record low For the first time in more than a quarter-century, a majority of Mexicans hold negative views of the United States -The Washington Post

LAWYERS TOO Building a Mini-State With Avocados and Guns The avocado orchards were safe as well, guarded by another set of uniformed militias. There was a palpable change at the town’s perimeter, marking the edge of what militiamen called “tierra caliente” — hot ground, meaning cartel territory. The avocado trade appears to be booming. -NYC

Venezuelan opposition skips reconciliation talks with Maduro government The talks are seen as a last-ditch effort to pave the way free and fair presidential elections this year, in which the embattled Maduro is expected to seek another term. -The Washington Post

US-AMERICAS | COMMERCE/MARKETS

IMPACT + OPPORTUNITY

GLOBAL BUSINESS

Trump personally thanks Apple CEO for investment pledge The technology giant announced Wednesday that it would make a one-time tax payment of $38 billion on its overseas cash holdings and invest $30 billion in capital spending over the next half-decade as part of its overall plan to ramp up spending in the U.S. -Politico

How the U.S. Ended Up Enthralled by Unions Even labor-friendly Paris uses fewer workers than New York City, and for a fraction of the cost. American public unions pervert the process. -Bloomberg View

DISRUPTION MEETS ITS MATCH: THE REGULATOR Big Tech is hiding in plain sight. Today, five companies — Amazon, Apple, Facebook, Microsoft, and Alphabet (Google’s parent company) — have a collective worth of more than $3 trillion. Yet such transnational companies remain mostly exempt from the sort of regulations and accountability faced by most other industries. -The National Review

Tech giants are telling Trump to preserve a program that allows some spouses of high-skilled immigrants to work in the U.S. Their top lobbying organizations fear the end of the program is imminent -Recode

HSBC to pay $100 million to settle U.S. probe into currency rigging-Reuters

THE RENTBoeing willing to preserve Brazil's 'golden share' in Embraer deal Boeing Co (BA.N) is working to overcome the Brazilian military’s objections to its proposed tie-up with Embraer SA (EMBR3.SA) with alternatives that would preserve the government’s strategic veto rights and ensure safeguards for its defense programs -Reuters

GLOBAL MACRO

Two Federal Reserve Openings Provide One Chance to Counter Trump The Federal Reserve is facing a significant change in leadership that goes beyond the installation of a new chairman. It is also awaiting the appointment of two other top officials who will play a crucial role in shaping Fed policy. -NYT

ONE UPIEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally U.S. oil output is set for “explosive” growth this year as prices rally, potentially offsetting a further collapse in Venezuela’s production, the International Energy Agency -Bloomberg

ONE DOWN Crisis-hit Venezuela's oil output plummets in 2017 to decades low Venezuela’s crude oil production fell nearly 13 percent last year, according to figures released by OPEC on Thursday, hitting a 28-year annual low that points to a deepening economic crisis and increased chances of a debt default. -Reuters

ONE EXITS & ENTERS China investment in Brazil hit seven-year high in 2017-Reuters